RB commits £100m to building brands and 'powermarkets'
Reckitt Benckiser has today committed to an additional £100m investment in brand building and is mirroring its Powerbrand initiative by identifying 16 new Powermarkets.
Cillit Bang: Reckitt Benckiser 'powerbrand'
Reckitt Benckiser (RB) has also disclosed that it is launching a major sales push in emerging markets to compensate for sluggish growth in Europe.
The identification of Powermarkets mirrors RB's strategy of targeting key Powerbrands, which includes brands such as Vanish, Cillit Bang.
RB has not yet disclosed its 16 new Powermarkets.
The company said its additional £100m investment in brand building would be found by finding cost savings across the business.
Rakesh Kapoor, the company's new chief executive, who took over in September replacing Bart Becht, said RB will ramp up its focus on growth markets, along with health and hygiene products.
Kapoor said: "[in addition to the] Powerbrand strategy, we have identified 16 'Powermarkets' for increased focus and investment, most of which are in emerging markets.
"RB's relentless focus on building brands will continue. We will be increasing our investment in high rates of innovation and brand equity building. We aim to deliver steady operating margin expansion."
RB's new focus of markets include grouping together new geographical regions, made up of LAPAC (Latin America, North Asia, South and South East Asia and Australia and New Zealand); RUMEA (Russia, Middle East, North Africa and Turkey and Africa) and ENA (Europe, North America).
RB had previously warned of slower growth in the last three months of 2011.
Follow John Reynolds on Twitter @johnreynolds10
This article was first published on marketingmagazine.co.uk
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